Let's get this math done. We have 589550 and 1012, and we're going to subtract the second number from the first.

Step 1: We'll start by subtracting the digit 2 and the borrow 0 from 0 in column 1 and get -2.
We add -2 to 10 and get 8 as the first digit of the result.

Step 2: We'll start by subtracting the digit 1 and the borrow 1 from 5 in column 2 and get 3.
3 is the next digit of our result.

Step 3: We'll start by subtracting the digit 0 and the borrow 0 from 5 in column 3 and get 5.
5 is the next digit of our result.

Step 4: We'll start by subtracting the digit 1 and the borrow 0 from 9 in column 4 and get 8.
8 is the next digit of our result.

Step 5: We'll start by subtracting the digit 0 and the borrow 0 from 8 in column 5 and get 8.
8 is the next digit of our result.

Step 6: We'll start by subtracting the digit 0 and the borrow 0 from 5 in column 6 and get 5.
5 is the next digit of our result.

So, 589550 - 1012 = 588538.